Comércio e Finanças Internacionais

Código:

2ECON26

Sigla:

ITF

Áreas Científicas
Classificação	Área Científica
CNAEF	Economia

Ocorrência: 2020/2021 - 2S

Ativa?	Sim
Curso/CE Responsável:	Mestrado em Economia

Ciclos de Estudo/Cursos

Sigla	Nº de Estudantes	Plano de Estudos	Anos Curriculares	Créditos UCN	Créditos ECTS	Horas de Contacto	Horas Totais
ME	18	Plano de estudos	1	-	7,5	56	202,5

Língua de trabalho

Inglês

Objetivos

- Description of main trade theories that explain observed trade patterns in global trade;
- Presentation of (i) the main explanations for firm's decisions on exports, international outsourcing, and FDI; (ii) main determinants of trade geography; and (iii) instruments and impacts of trade policies;
- Description of the contents of the Balance of Payments;
- Analyse the behaviour of exchange rates: facts, theories and policies;
- Description of the criteria for deciding international borrowing and financial investment;
- Presentation of the instruments and techniques for hedging foreign exchange risk.

Resultados de aprendizagem e competências

At the end of the course, students should be able to:
- identify major actors and trends in world trade;
- explain trade composition and trade geography;
- explain why firms may decide to export, to outsource, or to invest abroad;
- identify main trade policy measures and to explain their market and welfare effects;
-read and interpret the main items in a Balance of Payments;
- identify the main reasons behind the behaviour of any exchange rate, both in the short run and in the long run;
- hedge foreign exchange risk, using the most common instruments in international finance.

Modo de trabalho

Presencial

Programa

Part I
1. World trade overview
2. Trade and comparative advantages
3. Increasing returns and the gravity equation
4. Firms in the global economy: Exports, outsourcing and MNEs
5. Trade policy: Instruments, political economy and EU's policy
6. Trade policy in developing countries, and controversies
7. Trade, growth, and wages

Part II
1. The link between international trade and international finance
2. The Balance of Payments and the Net Investment Position
3. Foreign exchange markets and exchange rates
4. The interest rate parity: investment and financing criteria
5. Foreign exchange risk and hedging in international trade
6. Exchange rate regimes
7. Models of determination of exchange rates
8. Exchange rate forecasting and market efficiency

Bibliografia Obrigatória

Paul Krugman; Maurice Obstfeld; Marc Melitz; International Economics: Theory and Policy, Addison-Wesley, 2012
Maurice Levi; International Finance, Routledge, 2009

Observações Bibliográficas

Along the course, a set of papers will be delivered to the students.

Métodos de ensino e atividades de aprendizagem

Theoretical and applied lectures. Discussion of research papers and technical reports. Solving of quantitative problems.

Tipo de avaliação

Avaliação distribuída sem exame final

Componentes de Avaliação

Designação	Peso (%)
Teste	85,00
Trabalho escrito	15,00
Total:	100,00

Componentes de Ocupação

Designação	Tempo (Horas)
Apresentação/discussão de um trabalho científico	3,00
Estudo autónomo	127,50
Frequência das aulas	42,00
Trabalho escrito	30,00
Total:	202,50

Obtenção de frequência

Continuous evaluation requires students to attend at least 75% of the lectures.

Fórmula de cálculo da classificação final

Continuous evaluation: Each part of the course weights 50% on the student final grade.
Evaluation of Part I of the course encompasses 1 written test (70%) and 1 written report (30%). The evaluation of Part II of the course consists of 1 written test (100%).
The alternative to the continuous evaluation is a comprehensive exam (100%).

Provas e trabalhos especiais

In the case of online evaluation, the test can be complemented by an individual oral discussion, at the request of the teacher, to clarify any doubt in the answers.